Governor Christie will sign off on online gambling.....

[onefast99]

TRENTON — New Jersey is on the road to legalizing online gambling, with
Gov. Chris Christie conditionally vetoing the measure today but assuring
lawmakers he would ultimately sign off on it.

Christie said he wanted lawmakers to provide more funds to combat gambling
addiction, toughen oversight of casino employees and revise the bill to
collect more taxes.

Sen. Raymond Lesniak (D-Union), a primary sponsor of the measure, said the
adjustments Christie sought were "minor," and that legislators would
concur with the governor’s recommendations next month.

"This will give a big boost to Atlantic City, which has been bleeding
revenues for the last few years, and will really give a lifeline and save
thousands of jobs," Lesniak said.

The legislation (A2578), which requires that the online bets be placed
only in New Jersey, received bipartisan approval in the Senate and
Assembly. It would limit licenses to casinos in Atlantic City.

[thespaah]

TRENTON — New Jersey is on the road to legalizing online gambling, with
Gov. Chris Christie conditionally vetoing the measure today but assuring
lawmakers he would ultimately sign off on it.

Christie said he wanted lawmakers to provide more funds to combat gambling
addiction, toughen oversight of casino employees and revise the bill to
collect more taxes.

Sen. Raymond Lesniak (D-Union), a primary sponsor of the measure, said the
adjustments Christie sought were "minor," and that legislators would
concur with the governor’s recommendations next month.

"This will give a big boost to Atlantic City, which has been bleeding
revenues for the last few years, and will really give a lifeline and save
thousands of jobs," Lesniak said.

The legislation (A2578), which requires that the online bets be placed
only in New Jersey, received bipartisan approval in the Senate and
Assembly. It would limit licenses to casinos in Atlantic City.
Ya beat me to it. Just saw this...http://www.northjersey.com/news/Deadline_today_for_Christie_action_on_Internet-gambling_bill.html..
Looks like this is going through and will become law.

[horses4courses]

Certain gaming stocks, especially in the UK, have surged on the strength of this news.

http://www.bloomberg.com/news/2013-02-08/888-bwin-party-surge-on-n-j-online-gambling-plan-london-mover.html

[usedtolovetvg]

If New Jersey legalizes it, could the other States be far behind? If they make online poker legal in the States, there will be a real resurgence of the game like there was way back when. Don't think it could help racing though.

[onefast99]

If New Jersey legalizes it, could the other States be far behind? If they make online poker legal in the States, there will be a real resurgence of the game like there was way back when. Don't think it could help racing though.
That's an easy one to answer, the tracks will be able to look at other forms of "revenue generation" most likely through 4njbets.com and events held at the tracks exclusively. This is a win/win for everyone involved in the gaming industry in NJ.

[DeltaLover]

This is a win/win for everyone involved in the gaming industry in NJ.


Do you consider the gamblers to be part of this industry?

Since gambling does not produce wealth, I cannot see how it can be win/win for everyone...

What do you think?

[onefast99]

Do you consider the gamblers to be part of this industry?

Since gambling does not produce wealth, I cannot see how it can be win/win for everyone...

What do you think?
Governor Christie is a huge supporter of the survival of Atlantic City. He has done everything he could do to keep the place afloat. The signing of this bill(once he does)is contingent on the minor changes being asked for one of which is a higher casino tax rate. The AC casinos pay some of the lowest tax rates in the USA and that has annoyed Christie.
On the racing front this will give both Gural(Meadowlands)and Drazin(Monmouth Park)some bargaining power to implement other revenue producing methods. Sports wagering(includes NJ casinos) is one of those revenue generators but has been met with a lot of resistance especially by the Justice Dept as well as the NCAA, NBA, MLB,NHL and NFL.
Both horsemans groups have also looked into seperate pools for the major races including but not limited to the Triple Crown series and the Breeders Cup races. There has also been some talk of an internet lottery game, but I have no idea what group would benefit from that.

Virtually all growth in purses nationwide from 2000 – 2007 has occurred at racetracks with


alternative gaming revenue.


Fifteen of the nation’s top 20 racetracks ranked by 2007 total purses are currently, or will shortly be,


subsidizing their purses with alternative gaming revenue.


Eight currently receive gaming revenues –